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April 19, 2014

Homework Help: algebra

Posted by Felicia on Tuesday, August 21, 2012 at 7:07pm.

A local bank lends $12,000 using a 150-day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank gains or loses.

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